The IMF forgives Ukraine’s debt to Russia

On December 8, the IMF’s Chief Spokesman Gerry Rice sent a note saying:

“The IMF’s Executive Board met today and agreed to change the current policy on non-toleration of arrears to official creditors. We will provide details on the scope and rationale for this policy change in the next day or so.”

Since 1947 when it really started operations, the World Bank has acted as a branch of the U.S. Defense Department, from its first major chairman John J. McCloy through Robert McNamara to Robert Zoellick and neocon Paul Wolfowitz. From the outset, it has promoted U.S. exports – especially farm exports – by steering Third World countries to produce plantation crops rather than feeding their own populations. (They are to import U.S. grain.) But it has felt obliged to wrap its U.S. export promotion and support for the dollar area in an ostensibly internationalist rhetoric, as if what’s good for the United States is good for the world.

The IMF has now been drawn into the U.S. Cold War orbit. On Tuesday it made a radical decision to dismantle the condition that had integrated the global financial system for the past half century. In the past, it has been able to take the lead in organizing bailout packages for governments by getting other creditor nations – headed by the United States, Germany and Japan – to participate. The creditor leverage that the IMF has used is that if a nation is in financial arrears to any government, it cannot qualify for an IMF loan – and hence, for packages involving other governments.

This has been the system by which the dollarized global financial system has worked for half a century. The beneficiaries have been creditors in US dollars.

But on Tuesday, the IMF joined the New Cold War. It has been lending money to Ukraine despite the Fund’s rules blocking it from lending to countries with no visible chance of paying (the “No More Argentinas” rule from 2001). With IMF head Christine Lagarde made the last IMF loan to Ukraine in the spring, she expressed the hope that there would be peace. But President Porochenko immediately announced that he would use the proceeds to step up his nation’s civil war with the Russian-speaking population in the East – the Donbass.

That is the region where most IMF exports have been made – mainly to Russia. This market is now lost for the foreseeable future. It may be a long break, because the country is run by the U.S.-backed junta put in place after the right-wing coup of winter 2014. Ukraine has refused to pay not only private-sector bondholders, but the Russian Government as well.

This should have blocked Ukraine from receiving further IMF aid. Refusal to pay for Ukrainian military belligerence in its New Cold War against Russia would have been a major step forcing peace, and also forcing a clean-up of the country’s endemic corruption.

Instead, the IMF is backing Ukrainian policy, its kleptocracy and its Right Sector leading the attacks that recently cut off Crimea’s electricity. The only condition on which the IMF insists is continued austerity. Ukraine’s currency, the hryvnia, has fallen by a third this years, pensions have been slashed (largely as a result of being inflated away), while corruption continues unabated.

Despite this the IMF announced its intention to extend new loans to finance Ukraine’s dependency and payoffs to the oligarchs who are in control of its parliament and justice departments to block any real cleanup of corruption.

For over half a year there was a semi-public discussion with U.S. Treasury advisors and Cold Warriors about how to stiff Russia on the $3 billion owed by Ukraine to Russia’s Sovereign Wealth Fund. There was some talk of declaring this an “odious debt,” but it was decided that this ploy might backfire against U.S. supported dictatorships.

In the end, the IMF simply lent Ukraine the money.

By doing so, it announced its new policy: “We only enforce debts owed in US dollars to US allies.” This means that what was simmering as a Cold War against Russia has now turned into a full-blown division of the world into the Dollar Bloc (with its satellite Euro and other pro-U.S. currencies) and the BRICS or other countries not in the U.S. financial and military orbit.

What should Russia do? For that matter, what should China and other BRICS countries do? The IMF and U.S. neocons have sent the world a message: you don’t have to honor debts to countries outside of the dollar area and its satellites.

Why then should these non-dollarized countries remain in the IMF – or the World Bank, for that matter. The IMF move effectively splits the global system in half,between the BRICS and the US-European neoliberalized financial system.

Should Russia withdraw from the IMF? Should other countries?

The mirror-image response would be for the new Asian Development Bank to announce that countries that joined the ruble-yuan area did not have to pay US dollar or euro-denominated debts. That is implicitly where the IMF’s break is leading.

The Essential Saker: from the trenches of the emerging multipolar world

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Solution: Uti Possidetis
The Russian Federation should simply invade Ukraine and destroy the country’s military infrastructure, take possession of all territories east of the Dnieper river, offer Russian citizenship to the people living in those areas (for them to avoid losing their rights and assets). After these actions are taken that sovereign debt can be considered fully paid.

BTW. I was just watching a WWII documentary, Soviet offensive (Советское наступление, https://www.youtube.com/watch?v=alUCqm-OI3s ). By the autumn of 1943 the Soviet army had pushed the Nazis across the Dnieper, and the Germans established a bridgehead on its western bank. A bitter fight ensued. Stalin even promised a high decoration to the first Soviet soldier who would manage to cross the river. And at the beginning of November the Soviet army liberated Kiev, and the Germans, beaten now from all their positions along the Dnieper, were massively withdrawing in the western direction.

What caught my ear then was what the narrator said, at ~10:19: “By the end of 1943 the Red Army had practically liberated all the historic lands of Russia.”

The problem is that Russia is already so large that governing it is difficult.
I think the Russian leadership does not want more area, especially an area that the US installed Ukrainian junta has systematically destroyed housing, industry, and public works.

What does this mean for Donbass? Does this mean war? I thought that if Ukraine did not get the money, they could not buy more military gear and pay soldiers and barely keep the country afloat, so there would be no more war, but now when they are flush with cash, I assume they will spend it all on the military.

Every way I look at it tells me it will get much worse before it gets better. Turkey would not have shot down a Russian bomber without having previously consulted the US. Ukraine seems to be positioning to restart the war synchronized with a plan that only the Pentagon (what an arcane symbol of evil) knows.

If there is a much bigger war, God help us, WW3 that is nuclear, I am sure that future historians if any will conclude that the US was responsible like another people that thought they were ‘uber alles’.

haha. agreed. normal channel history is just incomplete to say the least. we lie about the sun, moon, temperature, ocean currents, clouds, electricity, the list is endless. human political/power history is so false, haha, we lie about god. we do not deserve the extremely rare planet and life world we are in.

Arius, this predictable move by the Yankee Reich tells us, yet again, that there will be no end to US aggression until either Russia and China are destroyed and broken into fragments controlled by Imperial stooges, or the US ruling elite are disempowered, somehow. The ideal outcome would be some sort of revolution in the USA which would democratise the country, returning power to the people from the plutocratic oligarchy, and the US then ceases its evil interference in the affairs of every other country on Earth, nearly always with evil consequences. As the odds against this happy outcome probably approximate to the number of atoms in this universe, I’m not confident.

The people here in the US are really not able to think, at all. They are dumbed down to the point of moronic idiocy by TV, iPhones, and the internet. There will be no revolution in the US. Unless the US turns against the people in a blatant manner, by stealing SS, by locking up “dissidents”, by killing citizens with the military, etc. I think our only hope is for Russia, China and Iran to conquer the US and occupy our country. Maybe even destroy it. It seems the only way to stop US hegemony and arrogance. I might be wrong, and I hope I am.

I am sadden to read “I think our only hope is for Russia, China and Iran to conquer the US and occupy our country” I hope you are not serious.

I am not American, but the worse thing a citizen can do is to express such a wish, in every country on the face of this planet, it is called HIGH TREASON. Inviting a foreign power to solve your domestic problems is absolutely not a solution. I love Russia and Iran, China is questionable, but I would hate to see them invade and occupy other countries.

This reminds the low-life Chinese Liu Xiaobo dissident who blatantly and shamelessly told a Hong-Kong news magazine:
“It would take 300 years of colonialism. In 100 years of colonialism, Hong Kong has changed to what we see today. With China being so big, of course it would require 300 years as a colony for it to be able to transform into how Hong Kong is today. I have my doubts as to whether 300 years would be enough”

…and gaining back their independence from Israel, perhaps even the dismantling of the country would not be a bad idea either. The US proved multiple times unfit to be a World Leader. Who knows, maybe Mexico can get back 40% of its lost territory.

Perhaps King Salman and ‘Boy Dauphin’ loose cannon Prince Salman night ponder what a nuclear tipped cruise missile aimed at Saudi might do? I am not advocating it and it has seriously bad implications but it would also solve a major problem instantly.

I am also sure this scenario and its permutations have been ‘gamed’ by Russian military strategists.

The universe would be unambiguously better off if the Saud Mafia and their Wahhabist religious Gestapos disappeared from this realm. These monsters who specialise in religious murder deserve to experience the delights of suicide bombing like the poor dupes they finance and indoctrinate.

Perhaps titillating, but far too dangerous and (luckily) quite unnecessary. Consider instead the far better option of a horde of Muslim terrorists flooding into Saudi Arabia to turn it from a theocracy tolerating a monarchy into a plain theocracy. The Saudi royal family have long been engaged in a delicate balancing act. Rather like Mary Queen of Scots vis a vis John Knox and the other presbyters, they have been grudgingly tolerated by religious leaders who strongly disapprove of them.

The Saudi attack on Yemen is actually very promising in this sense. Having started the war, the Saudis are now engaged on the ground with Yemeni fighters supported, to some extent, by Iran. All that’s necessary is for the tide to turn, and the Yemenis can invade Saudi Arabia – where there is little to stop them. And how much would it take to turn the average Saudi man in the street (obviously, women aren’t allowed in the street) to turn on their rulers?

Those who live by promoting terrorism may very well find they die by terrorism.

Wouldn’t non-nuclear weapons, aimed at Saudi and Qatari pipelines that lead to their port facilities, be a better option? Nobody need get killed, but the price of oil could zoom to $100/barrel, which would be great for the Russian economy. That would help them pay for their anti-terror operations in Syria. Also, the smug royals in Saudi and Qatar that abide the funding of terrorists would no longer view their “activities” as risk-free. (A simultaneous, temporary, 1 day “glitch” in the flow of gas to Europe would also send a message to them that their terrorist coddling ways should be re-evaluated.)

Frankly, this would probably do more to damp down terrorism than any other single act, so world opinion would probably support Russia, as long as they don’t overdo it. (Too high a price for oil will cause world-wide depression.) Also, I can’t help but notice that regime change doesn’t work very well, in the Middle East. Having chastened regimes in Saudi and Qatar, that have suddenly seen the light about where their best interest lay, seems like a much preferable scenario.

BTW, I used to have Jordanian roommates, and they were not very fond of Saudi Arabian
royals, to put it mildly. I got the sense that their sentiments are shared in the Arab world.

Curious and curiouser. Putin speaks of ‘terrorists’ but that word and the definitions of terrorism are quite broad and subjective -it includes nations.

So who would he advise or threaten directly or indirectly with Russia’s cruise or other missiles? Probably not Russia itself, nor China nor any non-strategic neutral country. Which leaves the USA and its vassals and those proxies who are aligned with the USA in some way and/or possessing that which the USA craves. e.g. oil.
It could be a menacing non-specific ‘don’t mess with Russia’ but that is not typical Putin.

And… the Saker’s on a roll! –> last week’s controversy has become irrelevant dust in the wind.

Yesterday’s (last week’s) attempts to discredit based on the characterization of unpopular but often truthful views as being anti-specialpeople has failed utterly and that’s going to happen more and more as the autocrats that try to muzzle and terrorize you/us/everyone get their bluff called.

You have Micheal Hudson on your site in no time flat – good stuff! (just finished watching him on RT today). Also all the other great articles this week – really high quality and at a rate that’s difficult to keep up with.

Michael Hudson is definitely worth watching. For all those who want to understand a bit more about finance and how the macro-economy works, should read the following books (or presentations on youtube, esp. those of Steve Keen):

MMT by L. Randall Wray, Debunking Economics by Steve Keen and of course any of Michael Hudson’s books (Bubble and Beyond).

Does anyone have info on what / how the banking, inter-banking, clearing-pool software is / works (what os they use, what accounting software they use)? Suppose those are all Double-entry bookkeeping systems but connected to a central ledger – the question is who checks those ledgers and how are they verified (unlike for example the bitcoin blockchain) ? Does anyone have literature suggestions on that topic?

(A Moscow apparatchik got away with stealing credit money for the purpose of building a tunnel and settled in London – this just one example, that shows that there is little control on financial flows in Russia [sure just as bad as in many other countries] and if you know the right insider, virtually anything can be done to rob a bank; like William K. Black writes “The best way to rob a bank is to own one”)

The potential for fraud is immense, after 2007 (all those ninja loans and subprime packages sold f.e. to our banks [“Landesbanken”] – who else), nothing is out of question anymore.

I don’t know how much of interbanking, etc. he covers, but Bill Mitchel at http://bilbo.economicoutlook.net/blog/ has a great deal of material, some towards the technical side, where you might find something — and he’s worth looking at in any case. He has a MMT orientation for much of what he writes.

Thanks, but at first glance his focus is on general central banking myths, the Eurozone crisis, NIPA, economic policy etc.

It’s a paradoxical situation, in that those who even work in finance (with whom I spoke) don’t know much or next to nothing about the technical realisation of the accounting procedures i.e. which actual software/hardware is used (SAP, Microsoft product,…? most books I read describe it in principle but no word on the actual interface).

J is for Junk Economics
A Survivor’s Dictionary
to the Vocabulary of Deception

A companion volume to
“Killing the Host”

and I can tell you it’s a winner! If you want to understand the twists and turns of the processes by which the One Percent reaches into all our pockets and stuffs their own with our cash, I wholeheartedly recommend this book. It is a real eye-opener.

Going by memory at the moment, but I think Warren Mosler was into finance, and maybe Randy Wray — and check Max Keiser.
Might be worth sending an email to them asking about it. They might know, or know who to ask.

Others would be Katherine Austin Fitts and Bill Black, who were involved in the government side.

In the west, we use the SWIFT protocol (https://en.wikipedia.org/wiki/ISO_9362) to clear inter-bank transactions. I can’t remember the names but I know that, just this year, both Russia and China have rolled out their own clearance systems to compete with SWIFT. It will be interesting to see what happens as the world begins to trade in rubles and yuan through Russian and Chinese clearinghouses rather than propping up the petrodollar.

As for particular software, SAP sounds likely but I’m sure a lot of the big banks like JP Morgan use custom software that interacts with the data in the SWIFT format.

I bet you can find a lot of the information you’re looking for by searching posts over on zerohedge.com

Ok, I plowed through the TARGET2 handbook (1) and if I understand it correctly SWIFT based protocols/systems interact with the central bank (ECB) – in other words it’s not necessary to be a SWIFT participant to order a transaction in central bank money (requirements: be a direct participant [f.e. credit institute] and internet access).

SWIFT is a hybrid, in that it is a messaging system and a interface for payment orders, i.e. a ‘middle man’.

From the unwritten handbook, its thoroughly infiltrated by the NSA and other anglozionists.. Who knows where the money is going and from whom.. They were able to trace some high profile money transfers they confiscated.. IE the US confiscated money transferred by 2 different countries among themselves.. The swiss gave the US the money as it was a US criminal investigation.. In another country.. So now the US is global judge jury and plunder.. For crimes having nothing to do with the US.. Using US$ gave the US the power to enforce its laws.. or make one up on the fly to steal billions..

And how would you transfer money without being a participant? You have to be one to get on the swift network. And both banks have to have a clearing house as a go between. it is the clearing house that actually moves the money.

Many clearing houses now exist, china has their own, so does india and now russia.. on top the european one and the US one but they ALL use swift to move money from one system to another globally and not just domestically.. Which is different than before where every bank used swift to move money.. Many realized using switch means uncle sam’s watching.. But a global clearing house other than swift still does not exist.. The others are all still regional.. Using swift and transfixing in US$ means uncle sam can take it.

From the unwritten handbook, its thoroughly infiltrated by the NSA and other anglozionists.. Who knows where the money is going and from whom.. They were able to trace some high profile money transfers they confiscated.. IE the US confiscated money transferred by 2 different countries among themselves.. The swiss gave the US the money as it was a US criminal investigation.. In another country.. So now the US is global judge jury and plunder.. For crimes having nothing to do with the US.. Using US$ gave the US the power to enforce its laws.. or make one up on the fly to steal billions..

And how would you transfer money without being a participant? You have to be one to get on the swift network. And both banks have to have a clearing house as a go between. it is the clearing house that actually moves the money.

Many clearing houses now exist, china has their own, so does india and now russia.. on top the european one and the US one but they ALL use swift to move money from one system to another globally and not just domestically.. Which is different than before where every bank used swift to move money.. Many realized using switch means uncle sam’s watching.. But a global clearing house other than swift still does not exist.. The others are all still regional.. Using swift and transfixing in US$ means uncle sam can take it.

I can’t wait to read a ‘Paul Craig Robert’s rant’ on this. I am sure he was choking over his morning coffee reading this, and understandably so.

I am currently reading ‘The Monster’ by Michael W. Hudson, the reporter. There are two Hudson’s, one the reporter and the other the economist, both worthy of attention.

From the ‘Monster’ description: “How a gang of predatory lenders and Wall Street Bankers fleeced America -and spawned a global crisis”.
The Introduction is aptly named “Bait and switch”. Perhaps the IMF uses this as a 101 course?

Hi Michael, thanks for explaining things so well.
Although somewhat off-topic, I was wondering what your – and Paul Craig Roberts – advice would be to the Eastern Ukraine Republics, the DPR and/or LPR, regarding what their economic policies should be for growth and wealth creation?
Many thanks, and I wish you all the best.

Yes, absolutely. Can you stay in a system that directly says you will be stiffed if you stay in it?

There is a strange sickness in the Western psyche. Perhaps the best coarse of action is to keep distance from the West, build separate financial institutions in the East, and watch the West sink into its super debt cycle collapse.

Arius, the sicknesses in the Western ruling elite psyches are numerous. Some are those well-known from psychology as the stigmata of the psychopath-lack of empathy and compassion, generalised misanthropy, huge egomania, paranoia, untrustworthiness, and insatiable greed. Other psychopathies abound witnessed by the epidemics of elite paedophilia, unbridled genocidal aggression, an absolutely unbroken ocean of lying about everything, large and small, and sundry other perversions.
This elite has long been hereditary, and has progressively concentrated more and more power and wealth in its hands, at the expense of the ‘loser’ 90%. Their conspicuous luxury display knows no bounds, and their vulgarity, in contrast to previous ruling elites, is extraordinary, particularly in the Anglosphere and amongst the recently ‘liberated’ Eastern Europeans. A recent development is the takeover of many of these Western oligarchies, particularly in the Anglosphere, by Jewish elements, now quite dominant in business particularly finance, politics (where political bribery is open and undisguised as ‘contributions’)the MSM and ‘entertainment’.
These psychopaths have created an operating system, Free Market capitalism, that consolidates their power and privilege, while, precisely as Marx predicted, immiserating the many and paving the way to its own destruction through secular stagnation, now upon us. And it reduces everything in existence to a commodity, to be turned into money, and thereby, unsurprisingly, in a couple of centuries has destroyed much of the natural world., leaving us on the brink of extinction, even if thermo-nuclear war is avoided.
While it is of course wise to separate oneself from this moral and spiritual disease, I’m afraid that is impossible. These creatures, like zombies in one of their movie masterpieces, are driven to seek out and infect all other societies, which MUST become like the USA-or else, subversion, sabotage, sanction or direct military destruction. All of which genocide we must loyally intone, is proof of the West’s unique ‘moral values’.

The mirror-image response would be for the new Asian Development Bank to announce that countries that joined the ruble-yuan area did not have to pay US dollar or euro-denominated debts. That is implicitly where the IMF’s break is leading.

Will the main actors of the BRICS have the courage to implement such a policy? Russia has also a few cards in its sleeve, but does not appear to be ready to implement them.

Outrageous. Everything about Ukraine since the “most blatant coup in history” is absolutely an affront to every notion of human decency, ethics, and morals. That the country my birth is the instigator and facilitator of every atrocity, while spinning it as some kind of noble pursuit, drives me crazy no end. Another in a long string of insults to Russia and humanity in general. There is no line these people won’t cross to achieve their goals born of greed, hatred, and lust for power. Not one.

The imperialist Zionist-American and European puppet Oligarchs of the IMF have just Declared War on Russia, and potentially, China, and any other nations who resist the Zionist American Uni-Polar controlled Dictatorship of the World. Standing debts owed to Russia do not have to be honored – they say. That act all but ends any (reliable) commercial activities or ties between the imperialists and Russia. Their ‘forgiving’ of the Russian loans to Russia, is, quantitatively, an increase of geometric proportions of imperialist Sanctions against Russia, (Sanctions On Steroids).

“From Stettin in the Baltic to Trieste in the Adriatic, an iron curtain has descended across the Continent.” -Churchill

‘No nation needs to repay debts to Russia’ say the Zionist American Banker Oligarchs. Next to receive this treatment will be, possibly, China, if their leaders do not cave to the imperialists. Then any other nations they choose may receive the same treatment.

This is the payback (actually non-payback) for the Russian peoples’ desire to Live Free (actually to live at all – continue breathing). This is the imperialist Oligarchs’ revenge for the Russian Air Corps in Syria, for Novorossiya, Crimea, and Georgia. The heavy weapons are moving to the front.

The complete line-up of the proto-Fascist alliance of the Zionists and their controlled America, and the puppet member European nations of NATO, and the anti-Fascists is not yet complete.

The power center of the anti-Fascist alliance is with the Russian Air Corps in Syria, which has rallied the area’s anti-Fascists. Within Europe, we witness the growth of popular resistance to the Zionist American fascist Terrorist New World Order. The Le Pens and their National Front, and Soral and Dieudonné and their supporters in France, and both right and left-(Corbyn), fissures in England might morph into a continent wide Nationalist Movement that would break with the Zio-American financial Oligarchs, and their IMF.

Indeed, why should any Nation or oppressed people pay any debts to the imperialist Bank owners?

“I set out on this ground, which I suppose to be self evident, ‘that the earth belongs in usufruct to the living’:”

“Then I say the earth belongs to each of these generations, during it’s course, fully, and in their own right. The 2d. Generation receives it clear of the debts and incumberances of the 1st. The 3d of the 2d. and so on. For if the 1st. Could charge it with a debt, then the earth would belong to the dead and not the living generation.”

VISION of: Thomas Jefferson, the author and guide for the American Revolution of 1776, and America’s 3rd president.

The war is on for at least 200, 300 years. But only now a larger part of humanity wakes up to it. Thanks to Putin, RT, Sputnik. Not that ‘the truth’ has been kept secret. It is available in zillion of documents on the internet for anyone to read.

“The Le Pens are in the forefront (and center of) the European Resistance”

Forget it. Front National is just a cancerous out-growth of a failed state. Nothing good will come from it.

“Forget it. Front National is just a cancerous out-growth of a failed state. Nothing good will come from it.”

You might be correct, that, as with Tsipras, and his Syriza alliance in Greece, once (and if), Marine Le Pen and the French National Front wins the National election, their government would cave to the imperialists.

You might also be incorrect.

For the moment, the National Front, as an [opposition] Political Party, through its leader and spokesperson, Marine Le Pen, is voicing very strong and accurate criticism to the world imperialists, including the American Government.

3. I submit to you for thought, that it is the French socialists, who are “just a cancerous out-growth of a failed state.” It is they who support (and must, as the official controllers of the Government of France, take the credit-blame for), the genocide against the Palestinians, reneging on the Mistral Aircraft carrier sale to Russia, re-colonizing a dozen of their former colonies, participating in the destruction of the Legal Government of Libya, and the destruction of the Libyan nation, and the assassination of Gadaffi, and the violation of the Democratic rights of the French people (by criminalizing and identifying “anti-semitism” as a crime against Jews, of whom, fewer than half are Semites), rather than identifying “anti-semitism” as a crime against Arab peoples (who are 99% Semitic peoples).

Why do you attack the National Front, which is not in power, while not even referring to the French Socialist imperialists and Zio-American puppets, who are supposedly In Power (occupy the Government ministries President, PM, Congress, etc.)?

Words are important. Is what Marine Le Pen is saying, correct, or incorrect?

“Why do you attack the National Front, which is not in power, while not even referring to the French Socialist imperialists and Zio-American puppets, who are supposedly In Power”

Why, you ask? Because her party is “in bed with Israel,” apparently… [and I’m not even disputing they might not be. I’m just answering you’re question, that’s all]

Although; I would like to ask her detractors which party currently in power in the West is NOT in bed with Israel, or the next-in-line for power parties for that matter (?)

Not to mention… Russia itself is pretty much in bed with Israel, and has been for years and years… But let’s not go there shall we?
It’s wrong: only if Le Pen does it! (And then some of these peeps have the nerve to talk about ’hypocrisy’ …)

If she were to come out and say she’s ‘anti-jew’ or ‘anti-zionist’ or both; they would still criticize her for being a ‘hater,’ a bigot, chauvinist, nazi and lord knows what else.

The cognitive dissonance is mighty strong in this quadrant of net, especially when it comes down to addressing the fault lines where two diametrical opposing ideas meet [good luck figuring that out, Peter ;-) ]

But, to sum it up: unless you’re a total whack-job who’s fond of taking naked pictures of yourself and post them on twitter (or wherever it was) for the whole world to see – AS IF he had anything to brag about to begin with [barf] – or you’re the likes of a Dieudonne M’Bala M’Bala; a comedian who is as funny as cancer, you’re not good enough of an up-coming French political figure for this corner of the interwebs, apparently…

…so let’s just stick with the devil we all know… the Hollandes, the Sarkozys, the Merkels, the Draghis (et al) shall we?! *eye-roll*

“From Stettin in the Baltic to Trieste in the Adriatic, an iron curtain has descended across the Continent.” -Churchill

It was actually Joe Goebbels who came up with the “iron curtain” thing: ” “if the German people lay down their weapons, the Soviets, according to the agreement between Roosevelt, Churchill, and Stalin, would occupy all of East and Southeast Europe, along with the greater part of the Reich. An iron curtain would fall over this enormous territory, controlled by the Soviet Union…”

First video. Very good speech from Marine Le Pen, I agree totally with her. However, (1) like all the popular politicians, she conveniently avoided to address the REAL ROOT cause of the Terrorism, she merely scratched the surface. (2) She did not addressed the ROOT Cause of the national debts, France used to be almost a debt free country until the day a strange law popped up in 1973 right after the demise of Charles De Gaulle, called the Pompidou-Giscard Law, or more precisely the Pompidou-Giscard-Rothschild Law which forbade the French government from borrowing from the Bank of France at 0% interest, exactly 60 years after the USA, the French had their own Federal Reserve Act.

Second video. An even better speech. However, Marine and the Front National have no intention of leaving the EU and switch back to their national currency (French franc) which is the ROOT CAUSE of many European countries, or one should say ‘European Provinces’. The Front National says it wants to “re-negotiate the membership to the EU and change some articles in the European Constitution, good luck in having unanimous YES from all the 28 countries (EU Provinces). Marine can speak the whole day about sovereignty, the legitimate control of France borders and about the monetary policy. Marine should save her breath and use one single sentence – “France will use Article 50 of the European Constitution to legally and serenely exit the EU so she can get her sovereignty back.” Exiting the EU is not really on the agenda of the Front National since it does not say such thing in its Charter nor in its Mission Statement. EU members have absolutely no control over their respective monetary policy, their respective borders and their own foreign policy, they don’t even have control over their own agriculture policy and Public Health policy. Wishing the best of luck to France.

Not me! Hell, I look at what happened because of the inherent flaws and sure don’t we should go through all that again. Slavery, wars and aggression, class war, lying propaganda, civil rights violations and violence… What is needed is something quite a bit different and better.

You’ve got that straight!
I quite never understood this obsession with going back to something previous-centuries’ people thought of. Maybe it was the best they could come up with at the time, but does it apply now? Can’t we – modern people – design something better ourselves?
If not: why not!? Are we all THAT stupid? If the answer is yes, then don’t we deserve to go the way of the dinosaurs? Make some room… and maybe in another 65 billion years another ‘sapiens’ species will emerge and have a go at this madness instead?

“Democracy is the worst form of government, except for all those other forms that have been tried from time to time.” By “others” it means even older forms of government. So! The best we can do is something ancient Greece came up with? Or something the USIans envisioned all the way back to 1776?!?

Technology advances yearly [computers, cars, internet, smart phones, air travel, nukes, space exploration (etc)] but the very system that rules all of our lives stays anchored in the past? How the hell that makes even sense?

Good comment [food for thought], blue :-)

PS; btw, I do believe there’s a better way, but since certifiable psychopaths are in charge, and also since the system benefits them above everyone else… of course they wouldn’t want to change a thing!!

Do you have some hint, or suggestion, of just what your solution for – political society in America, or other parts of the world would look like?

If you do not like Republics, because you insist they are going back into the past, (such as the Donetz, Luhansk, Russian, and Syrian Republics of 2015)??? Today’s Republics which are showing serious opposition to the Zionist American imperialist Oligarchs are not to your liking?

What are your suggestions? It is easy to criticize, but less easy to suggest solutions and paths out of this mess.

@ Peter J.Antonsen
Greetings
Unfortunately yes we could draw some parallel between the FN and Syriza. Right after the election of Mr Tsipras I posted this comment on YT (see Top Comment under screenname brahim119) https://www.youtube.com/watch?v=cAWINFifYY0 . I don’t want to think the same about Marine, but so many unorthodox things force me to. Here Alan Soral grills Marine Le Pen for her submission to the Zionists power: https://www.youtube.com/watch?v=LH31-KJkwGc

I agree Soral’s Egalité et Réconciliation is absolutely needed in a country like France, he is a genuine Republican, a Republic discourages division and pejorative communitarism. Indeed Dieudonné is a very intelligent and hilarious artist, the highest paid stand-up comedian despite the media assaults and the CRIF Inquisition (CRIF is the AIPAC of France). I usually frown some of his vulgarities, but he’s definitely the guy to hear the truth from while making you laugh.

Cynthia McKinney, if I had to choose a Queen it would definitely be her. I hope Saker will one day interview her, I saw her on Presstv YT channel, and she stole my heart.

If you want to hear the whole truth about the fraudulent project called the EU and EURO. Please listen to the excellent and extremely detailed conferences of François Asselineau, they are long but they are worth every minute of our time. http://www.upr.fr/conferences

Hmmmm I think that this for me is a hint to a missing piece of the Jigsaw Puzzle. Nixon closed the gold window in 1971 after De Gaulle sent a warship loaded with USD that had accumulated at the French Central bank from French banks in Indo-China that were absorbing the US deficit-spend associated with the Vietnam war. Prior to that USD’s were convertible into gold for non-US citizens and entities.

So my question has been. So De Gaulle was sent packing with a boatload of useless paper, so then what happened next to appease him or to square up the French banks? Was it this?

After closing the gold window came oil shocks and then in the late 70’s the petrodollar was put in place. USD’s are now soaked up by the oil exporting nations, and re-invested in US debt per Triffin.

In the msm tonight, it is just seen as another defeat for ‘weak Putin’…at the same time the ruble is above 70 and the brent below 40 usd….(wti at 37).

Some say they want to crash the financial system on purpose before the next election…with the oil below 30 usd and the ruble above 90/100

Don’t trust the Chinese…the BRICS is ‘done’,game over… as Roussef Brazil will be impeached in january it seems according to hot news from Brazil.The next president will cancel any Brics deal and Brazil will be back in the US dollar area.South Africa does not count too much.

They did the same in Brazil,they crashed the economy(with the carry trade due to the various US QE)..just to get rid of the PT(pro brics)…they did it on purpose,even if the big companies down ther lost a lot of cash.
Don’t forget that in the West,people who don’t follow the news like us,I would say that there is still a majority of these people who think that Russia is still a communist country..believe me.

Argentina which was near a possible entry in the Brics sphere,you may also forget it.Not to talk about another defeat in Venezuela where they also crashed the economy+ local tropical maidan (which did not work).A coup is near.

India is and was never a reliable partner(pro uk)…China plays double game…

Now with all ‘streams'(nord 2,turkish,south and maybe soon chinese contract?)what is Putin going to do?

The syria ‘adventure'(operation deny pipeline) will last years and will be very costly.You can count on the ‘coalition’ to make the things last forever.

But the big surprise of the chef could be the end of the saudis house…as with the oil at 30 usd or even below they will end up crashing themselves.

It is also in the US ”pipeline” to liquidate Saudi Arabia and divide it in two or three parts.
Maybe it is time for the Saudi to realize that when the US won’t need them anymore they will be treated like Sadam or numerous others.Maybe a change of alliance is ‘urgent’ if they want to save their life simply…count on the US to organize a saudi maidan.Maybe a trip to Moscow before it is too late guys?
They exactly want the same to happen in both Syria and Irak.Then they will finish the job cleaning up Hezbollah and a final fireworks:Iran
The Great Israel will be born(with khazaria waiting for the Israel 2.0 in the Ukraine later?)..that is the only goal of all theses events since the Maidan coup and even earlier since the start of the fake civil war in Syria and the fake Arab Springs.

Don’t forget that Nuland,Kagan,Biden(a fake catho),Kissinger,Mc Cain and co, are all or ultra zio or for being jews or for being christian evangelists …they have the same goal even if once they got it,their ways will be different.
These mad people are just looking for Armagedon on purpose(but for different reasons).
If they need to change de rules of the IMF,attack RF in Ukraine,in Syria,anywhere,crash the banking system,more sanctions,swift etc..they will not hesitate one second.

I’ve never put much faith in saving Latin America right now. The empire is far too strong there. They’ve controlled those countries (minus Cuba) for over a hundred years (closer to two hundred). They can possibly be saved by an complete internal revolution. But it would need to be an extreme Cuban style housecleaning revolution. And I don’t see anything like that there in the near future. Its the “World Island” of Eurasia” that Russia should spent its efforts on. Certainly,have good relations and trade with Latin America. But don’t make the mistake of expecting to find allies there.

There are certainly allies there — but they are not in charge and are fighting for their lives against powerful opposition. And many people there have to wise up, the same as in North America, and stop voting for fascists, and blaming the left for the economic problems (assuming the voting is not rigged, of course).

This is world-wide fight, peasants vs nobles, as usual, and a fight to raise the consciousness and information levels everywhere. It is this that lies behind the idea of ‘permanent revolution’.

The “not in charge ” point “is exactly” my point. Since they aren’t (and unless a revolution,won’t be) in charge. They can’t be counted on for more than trading pardners. And even that,only as long as the empire allows that. As long as we understand that (and Russia and China understand that) we won’t be disappointed.

“Don’t forget that in the West, people who don’t follow the news like us, I would say that there is still a majority of these people who think that Russia is still a communist country..believe me.”

Certified human transatlantic garbage definitely does believe that — precisely due to “following the news” straight from the MSM cesspit. Here in Europe where (most of) Russia is much closer, Russophobia among the general population is rapidly becoming a national retardation marker. Failed, alleged states such as Poland, the Baltic fiefdoms, and the Ukraine speak for themselves: Third-rate Pindos beyond redemption, below contempt.

The talons of the Hegemon were sunk deep into Russia in all its institutions except the military and Intel. This was during Gorby and Yeltsin.

Putin cannot pull away like it’s a completely self-sufficient economy. It was broken industrially. The education system was damaged. The theft of wealth was enormous by oligarchs and Western corporations, and the NGOs built a following among the Liberals (fifth column).

The birth rate was going in the wrong direction. Males were drinking themselves to death. Terrorists were killing people in huge massacres. Criminals were running wild in the streets. The media was owned by enemies of the nation’s history and future.

Learn a little about what the condition of Russia was before you say: Putin failed to act.
That is an ignorant statement.

Or very naive.

Every tool of banking, credit, finance, market manipulation, currency manipulation and hybrid warfare have been thrown at Russia.

The oil price drop, now under 40 dollars, heading for maybe a 20-25 low is killing the Russian economy and budgets of the government.

The Ukraine has been used in various ways to inflict deep pain on Russia’s economy. Sanctions, and military threats from NATO, from the nazis, from Eastern European states nearby and Turkey in particular present a variety of existential threats.

Putin has resurrected Russia from a disaster to a super power (within limits).

Take a look at what’s happening in China’s neighborhood. Singapore, an old friend, has caved and now based Poseidon planes for the US to spy on China. The containment project is well under way. TPP, Philippines and Vietnam, Japan and Australia all are vassals set up against China.

Actually if the Ruble drops at the same time the price of oil does then it will be business as usual for Russia. It will help also speed along internal economic reforms in being self sufficient.
This is the key to helping Russia or any nation be strong.

Also, Russia can fire back with a Debt Holiday on loans to business, at the same time Nationalising the Central Bank and using it as a means to provide liquidity to the Russian Economy. A 2 for 1 blow which would rock the foundations of Western Banking, especially in Europe. The thing is, doing this would break Europe and cause massive economic carnage and my feeling is that Russia is not wanting to do this because they want to work with Europe. A free Europe, now that is the problem and it is up to the citizens of Europe to wake up and deal with the problems within the EU and National levels.

This is a major departure from how the organization normally operates, but it should come no surprise, because, The IMF has always operated politically and as a tool of Washington.
Loans and programmes are usually approved/ disapproved based on how a country is perceived by the US/West.

Ukraine is playing ball, so the rules are being bent to facilitate Washington’s aims- right now aim no. 1 is for Ukraine not to totally collapse. But don’t for one minute believe that Ukraine is lucky to have the IMF waive rules on its behalf, because If you know anything about the IMF’s sordid history you would tell Kiev to call Putin and tell him they made a BIG mistake and they wish to return to the Status quo ante.

If I asked you to name 1 single country in which the IMF has intervened, and the people of that country have emerged better off, would you be able to do that? Please, please, please, don’t waste your time googling that one, because there is NONE!

From its inception, the IMF has been tasked with protecting the wealth of the global elite, while simultaneously stripping countries of their assets and making sure their populations are amenable to exploitation.
In the 70s and 80s, their Structural Adjustment Programmes,and Austerity Measures- 2 of their favorite terms – laid waste to most of Africa and Latin America. Ukraine and Greece are just its latest victims.

Essentially, the IMF comes in to aggressively push a Neo-Liberal agenda. This means the removal of subsidies and regulations deemed hostile to the free movement of foreign capital and the operation of Multi-Nationals. It requires throwing open the local market to foreign competition, and it almost, always, demand that Government assets be privatized and Government spending be cut to a minimum.

You invariably get mass layoffs and social chaos from all of this, but for the organization’s perspective this is never a problem. For the IMF, success is measured by how far the country and its inhabitants are brought into into the Neo-Liberal fold and how easy it then becomes for Multi-Nationals to operate in the new space carved out.

Another IMF rule was also broken: country in war cannot receive IMF loans. US-installed Ukronazi junta uses artillery, rocket launchers, tanks and ballistic missiles (Tochka-U) to bomb and kill population of Donbass. If this is not a war, then what is? Let alone Ukronazi junta and western propaganda machine themselves claim Ukraine is “in war with Russia”. Apparently not when it comes to sponsoring Nazi regime.

Patience. None of this is the time to react. Nothing happens overnight – except to people who never saw it coming. Russia and China are both 100% cognizant of everything contained in this article. They read Hudson too ;)

Just keep watching and waiting. This is the turning of a large vessel on the open seas, it can afford to take a wide arc. The multi-polar world will not appear overnight. It takes time to replace a world order.

IMF allows lending to countries with arrears; Russia prepares to go to court over Ukraine debt

“The IMF decision to change its lending policies has been made “in prejudice of Russia and to legalize Kiev’s capacities not to pay its debts,” Russia’s Finance Minister Andrey Siluanov told journalists on Tuesday, as cited by Interfax. Siluanov called the decision “precipitated and preconceived.”

Russia has addressed the IMF to help solve the situation with Ukraine’s debt, but was told to “engage with negotiations [with Kiev] alongside commercial creditors,” Siluanov said.”

Well, what do you expect from a Western institution? You don’t actually think they would abide by any rules, even those they themselves wrote? Tut-tut. Very naive. There is no one more corrupt than Westerners, especially Muricans. Muricans, together with their liberal disease, are epitome of corruption. It’s common knowledge.

But to provide some details regarding this subject, Muricans have stopped financing IMF a couple of years ago I think, and IMF made loans to Ukropia only because Europeans (ECB) guaranteed it. Czar Nicholas had done something very stupid prior to WW1: he believed in Anglo stories about “the need to set up League of Nations in order to prevent future wars,” and Czar Nicholas sent a few thousand tons of gold in order to fund it. He did very stupid thing and for that paid with his life. Rothschilds, partly with that very gold, funded Bolsheviks you see. So story goes that President Putin having proof of Rothschilds crimes and thievery, demanded return of the Russian Czarist gold back to Russia a few years back, which Rothschilds didn’t take very well; made them very angry. Nobody demands return of stolen things, not from Rothschilds (you should know by now the source of power of banking dragon from City of London… of Rotschilds — it was enormous stockpiles of gold and silver – the real and only money which enabled them to scam the world with worthless fiat paper since they vas majority of world’s gold in their hands – they have taken through British Empire’s wars, and especially through rape of China and India from which most of “their” gold came)! So when Rotschilds didn’t comply with the decision, President Putin threw all Rotschilds agents out of Russia. That was in 2013., and that is when Murica and euro vassals started the coup, following military aggression in Ukraine you see. Not wanting to return the stolen Russian gold is a major part of western cabal’s — oh I am sorry, that would be “elites” for Westerners *ehehehe*… elite thives ffs — aggression in Ukraine. Let us hope then President Putin managed to negotiate return of stolen Russian national treasure back from those elite thieves. You see know how those filthy Westerners always want to steal something, hm? Westerners celebrate thievery and every other aspect of immorality one can think of. Such is their liberal culture.

Source for? ¨Czar Nicholas sent a few thousand tons of gold in order to fund it. He did very stupid thing and for that paid with his life.¨

Russia was not a member and the Soviet Union wasn´t either until 1935.

The League of Nations (1920-1935)→
Summary

American President Woodrow Wilson intended the League of Nations to be the primary body of a new style of international relations based on the cooperation of all of the nations of the world. The League was to be centered in Geneva, Switzerland, a neutral location. Small nations as well as large nations were asked to join, dependent on their acceptance of the Covenant of the League. The League of Nations first met in November 1920. Forty-two nations were represented at this first meeting. Notably absent were German, Russia, and the United States. Germany, identified as the aggressor in World War I, was barred from admission at first, and admitted in 1926. Russia, now the Soviet Union, was not invited to join the League due to the radical policies of the new communist government. The Soviet Union finally became a member of the League in 1935. In November 1919, the US Senate voted against accepting membership to the League, and the nation never joined.

In 1889, the Inter-parliamentary Union (IPU) was co-founded by William Randall Cremer, the British pacifist and Member of the Parliament, and Frederic Passy, the founder of the French “Ligue de la Paix” and Member of Parliament. Thus, the first truly international political organization, whose aim was to promote international arbitration and world peace, was born. As a result, a new kind of pacifism, based on parliamentarian support, was established. By 1914, one third of all members of the 24 State Parliaments had joined IPU, and their ultimate goal was to compel their Governments to resolve disputes by means of peaceful settlement and arbitration. IPU acclaimed with satisfaction the initiative of Tsar Nicholas II who had called the Peace Conferences held at The Hague in 1899 and 1907).

The real question is how much longer will Putin and Russia continue to look for a diplomatic solution rather than play hardball?

Why keep selling gas and oil to Ukraine or to NATO member states?
Why honor debts to NATO member states? Why not freeze Western assets commensurate with the defaulted loans? Why do business with nations that are waging war against Russia?

NATO and Ukraine have engaged in open, military attacks against Russia in Crimea, and Turkey., while openly waging economic warfare against Russia by attacking the Ruble, employing sanctions, and now allowing Ukraine to openly default upon Russian debt. As the Saker and Paul Craig Roberts have written, Russia only encourages more aggression by continuing to turn the other cheek.

A good article. Now,if Russia (and China) will only get the message and take the advise. Their current behavior doesn’t make me think they will. I’ve thought for over a year they would make the type of moves advised in the article. But I’ve wasted my time hoping for that. And only gotten a year older. Even prominent Russian economists have said the same type of think and they aren’t listened to either. So why would I even then think they would listen to other economists outside Russia giving the same advise.In this case I fear the “horse will die of old age before he is saddled up”.

…”The mirror-image response would be for the new Asian Development Bank to announce that countries that joined the ruble-yuan area did not have to pay US dollar or euro-denominated debts. That is implicitly where the IMF’s break is leading.”

that’s exactly what I was thinking as I was reading down this page – the essay –

That’s a great idea..but I suppose that it would be called ‘economic warfare’

In the vein of ‘don’t trust China notice this special IMF deal came just 10 days after announcing the China yuan to be in the reworked SDR weighting, but only after next October/2016.

So they’ve strung along the duped Chinese with a carrot to not make waves about this or anything else because they’ve got it made (they’re already getting $40 crude, less than half what it was 18 months ago), same as the way others have mentioned Iran is being strung along for this supposed final final Jan/2016 deal with the IAEA.
Not gonna happen. Not either one!
Bet China would be surprised for someone to think that.

I don’t think the 2016 deal with happen either. I see the US using Iran’s involvement in Syria and Iraq to string it out. They’ll try to use it for blackmail purposes. But the question is will Iran allow them to. The Ayatollah only permitted the deal if the sanctions were removed “at once”. He allowed January to be agreed to. But if the US stalls that, he may cancel the whole thing. I’m not sure the US has considered that. There would go one of Obama’s only claims of a “legacy” in foreign affairs (positive legacy that is. He has a long list of negative legacy points).

Poroshenko and his gang of oligarchic thieves will try again to take over Donetsk and Lugansk , and the Ukrainian forces will be defeated again .I hope that the Donetsk and Lugansk soldiers will not stop this time until they have pushed the Ukrainian Army West of the Dnieper river.The Russian speaking Ukrainians especially in the territories that were Russian before the 1918 Revolution should have the chance to choose if they continue being part of Ukraine or part of Russia .

IMF: and Russia’s response. Like the cruise missiles and precision bombing in Syria, they will not see it coming although I do suspect that all that gold Russia has may become part of the next ( class ) act of Putin’s 3 act play. Someone is going to hurt and hurt bad. Turkey’s 48 hours are up ..tick, tick, tick. oh but if the Ukraine doesn’t have to play by the rules neither does Turkey nor does anyone else for that matter.

The difficulty is in paradigm shift, which is usually slow and difficult. It’s like moving from thinking the Earth at the center of the universe — and many people who have influence are of a temperament that they would be stuck on an escalator for hours if the power went out (and there would be those who refuse to move for fear of losing their place in line).

Many have lost sight of the difference between real economy — goods, services, production, consumption, labor, resources, etc.) and the abstract intangible ‘money’. Dr. Hudson is one who can make excellent explanations of this (as can others of MMT knowledge). Money is not what there is but only an accounting tool of what there is, and way to shift actual value from the workers to the wealthy and powerful. There are any number of accounting and distribution systems possible — but we are stuck on the escalator and abstractions (which is why propaganda, mythology, and controlled educational systems are of such importance to those wanting to maintain the current system).

It’s like the old Alan Watts (zen master) analogy of carpenters showing up to the job site and being told they could not work that day because ‘we are out of inches’.

Too bad that website perpetuates the myth of money growing out of barter, which Hudson, Wray, and others have exploded. Many websites, and university economics courses, still peddle bull chips.
Of course, it could be done now — pieces of paper saying things like ‘100 bushels of wheat from Russia’, 50 barrels of oil from Russia’, ‘1,000 CPU chips from China’, etc. — species being more specific. Seems better than a paper saying that ‘1 US dollar of US dollars’, but would not limit things to just gold or some other single commodity (of which there is not enough to cover all the value in the world).

And then there is the paper that says ‘Apology from the US for being completely wrong and criminal about everything’ …. priceless.

” . . .gold or some other single commodity (of which there is not enough to cover all the value in the world).

This idea comes from thinking of the value of gold (or silver) in terms of some fiat currency, like dollars. A true perception of the matter would have people thinking just the other way around — valuing, say, dollars in terms of certain amounts of gold.

Were gold to be accepted as the international currency, its value would automatically adjust itself to cover all purchasable commodities or assets. It would have to, or no one would be able to purchase anything, and the masses would not stand for that for much more than a minute.

The valuation of purchasable assets would be expressed in terms of certain amounts of gold, and those assets would be worth whatever amount of gold people would be willing to pay for them. That would in turn would depend upon how much gold was available for use in commerce, so that amount, whatever it might be, would become worth whatever aggregate of assets or commodities it would take to satisfy overall demand.

Those who might be holding enormous amounts of gold would be forced to spend it, in order to purchase things that they would need or want, thus gradually dispersing that gold among those who manufacture and market or who provide services.

No one would have to issue any decrees, or formal agreements on what gold would be “worth.” This might be the only situation in which the “free market” would, in fact, resolve the question all by itself.

Why not based on any other single commodity, to the same effect, for that matter — maybe moose antlers? It doesn’t matter — the concept of basing money on some ‘thing’ is erroneous. Using a gold standard would be disastrous — and has in the past.

Money is a creature of law, created by and managed by government, and can be created, destroyed, and manipulated by government, and endogenously, by people with power and means of production. All things used as money is fiat because it’s all ‘legal tender’ — the essence of money, and supported by law.

Value is a product of people’s needs and desires, as it relates to the labor needed to make things, availability in the natural world, rates of consumption, and supply, and liquidity and velocity.

Forget about Austrian School, Chicago School, and neoclassical stuff, and the common and wrong assumptions and myths about economics. There is nothing automatic about the price of gold or interest rate or availability of money. And forget about the so-called ‘free market’, which never existed and never will on any scale larger than a village, where it was very rarely found anyway. Forget everything you think you know about money and economics and start from the ground up again. Not only the availability of gold, but the quantity itself varies, and amount in a vault can be hidden. Trying to use a single commodity to base money on is like trying to define distance in terms of so many barley corns or the length of the kings fingers — chaotic.

The only way to truly value a thing is in comparison to how much people want it along with all other things which people want, and it all has to be aggregated for stability and universality — a ;basket’ of goods, and then adjusted by the government to create money to represent that value. Or just use a barter system.

I have ten million guys with big guns, and I tell you I have found a million tons of gold in my new mine. And I’ll issue notes for it to be used for money. You going to argue with me (and my army)? Fiat gold!

No —- you have to get down to basics of what we want to do and how to do it, and gold is not it.

“I think there’s an infinite loop there that could cause indigestion.”

An illustration of how some attempt to transcend a paradigm by using another paradigm, in this case another paradigm being the notion of autism as a disability, ending up in the short-term in a loop as you think, precluding the acceptance and understanding of neurodiversity.

However Mr. Silberman and others may find a way out in acceptance of doubt and use of lateral methods, the likely catalyst being recognition of paradigm shift as linear loops instead of salad.

The advice of “blue” of “Eat that word salad for lunch.” can be followed as the opponents wish in other matters in attempts to sustain their systems deflecting/obfuscating efforts towards equal and different.

“Fascism is an open terrorist dictatorship of the most reactionary, the most chauvinistic, the most imperialistic elements of financial capital.”

IMF and the Ukro-trash prove his point admirably. Of course the bloody Institution of Misery and Famine was not going to abandon its vested, political interests in Banderastan. Bourgeois legality has always been a silly joke — more so than ever before.

Sonuva! This is major. Or it should be. In principle, this shreds the legitimacy of one of the major structures of the international financial system. This can’t help but make the whole edifice less stable.
By rights it should be a huge deal, but quite likely most countries will pretend not to notice, or will even completely fail to understand the significance. Kind of like the way life seemed to go on as usual when they started talking about “bail-ins” (AKA “stealing depositors’ money”) in response to bank debt crises. On the other hand, seems to me it will have to have an effect on things like bond markets.

Then there’s the question: So, if it is now up to Russia to collect on its debts since apparently the US-ruled international financial system says it’s OK not to pay them back, what is it now reasonable for Russia to do in seeking its money back? If old rules guaranteeing that they get paid no longer apply, old rules limiting what they can do when threatened with default presumably also no longer apply. Same goes for anyone not in the new, exclusive club of those whose lending “counts”.

The whole structure of international finance is starting to unravel. Those “bail-ins”, meaning that depositors’ money isn’t secure. This thing with “Only US allies’ lending counts”. The ever-accelerating use of “sanctions” to grab countries’ money if the US doesn’t much like the country. The recent talk, particularly in Sweden, of combining negative interest rates (aka “stealing depositors’ money as standard business practice”) with outlawing cash so people can’t just hoard money instead of using banks that will steal their savings. Of course you can bet rich people, the big depositors, won’t be faced with that situation; they get the good interest rates.

It’s an overt shift from an international regime in which money is money and everyone’s money is in theory equal and guaranteed, to a regime in which two categories are excluded from the reliability of money: Countries with independent policies (and their citizens), and individuals who are not filthy rich no matter what country they are from. I don’t think it can stand; the hypothetical equality of money was the last vestige of legitimacy the international system overall had.

Let me tell you something guys: the true glory of Vladimir and mother Russia wont be unveiled to the world before Syria fall. Only after that. I have no doubt that Syria will fall and that will be only the beginning. Russia is the only country in the world which can be self-efficient?

Russia intends to initiate a meeting of the Board of Directors of the International Monetary Fund official confirmation of the status of Ukraine’s debt to Russia for $ 3 billion, told reporters Russian Finance Minister Anton Siluanov.
“At the level of the IMF, we have confirmed the official status of Ukraine’s debt to the Russian Eurobond at $ 3 billion. Now we intend to initiate a meeting of the Board of Directors of the Fund for the formal confirmation of the status of the debt, “- he said. The decision of the Executive Board of the International Monetary Fund to change the organization’s policies towards the countries that are in arrears to official creditors, made ​​solely at the expense of Russia and Russian forces to prepare documents in the Court of the Ukrainian debt, the minister said. “The decision to change the rules is as hasty and biased. It is assumed solely at the expense of Russia and to legalize the possibility of Kiev did not pay its debts”, – he said.
Siluanov said that Russia made a “step forward” by offering the option of settlement of the debt problem in Ukraine. “We turned to the IMF, as we understand that Kiev does not solve their debt problems on their own,” – said the Minister. However, according to him, the Russian side “have offered to negotiate, together with commercial lenders.” “This is not a constructive dialogue circle. In these circumstances we have no choice but to use every opportunity to protect its rights as a creditor. We are preparing documents to go to court”, – he said.”

The headline of this article is misleading. Ukraine didn’t make and doesn’t have a loan to Russia. Russia made a loan to Ukraine. Now Ukraine has a debt to Russia (and won’t pay). griffin, I have forwarded your note to webmaster. Thank you.

Andrei Klimov, deputy chairman of the Committee for International Affairs at the Federation Council, the upper house of Russia’s parliament.
“The United States plays the role of the main violin in the IMF while the role of the second violin is played by the European Union. These are two basic sponsors of the Maidan — the symbol of a coup d’etat in Ukraine in 2014. It is not ruled out that for the sake of supporting the Kiev regime, which the West has brought to power, the IMF will revise the rules of the game and decide on providing Ukraine assistance even after a default is declared,” Klimov said.
The senator said, however, that Ukraine might not get a new loan tranche from the IMF as the country had not yet approved its budget for 2016 over the absence of a coordinated tax reform draft. In his opinion, it is no coincidence that the visit by US Vice-President Joe Biden to Kiev on Monday preceded today’s meeting of the IMF Board on Ukraine.
“It is obvious that Joe Biden wanted to understand the situation with corruption in the Ukrainian government and assess whether or not Washington’s creatures might turn into political zeros in the near future. Meanwhile, the $190 million aid Biden promised to Kiev is a talk about nothing,” the politician said.
According to Klimov, if the IMF decides to meet Ukraine halfway, some of the IMF member countries deprived of such privileged conditions offered to Kiev might resist this attempt, reshuffle cards and the United States “would have to take great efforts together with the European Union to push through their decision.”

Oh, and good thing that Kirchner’s candidate lost the recent Argentinian Presidential Election. I’d certainly expect US stooge Mr. Macri to impose sanctions on Russia soon to signify his commitment to the West.

Oh, I should add, it is also good to see that lovely lady Ms. Dilma Rousseff getting impeached in Brazil! I do wonder how that will turn out.

Then you have that fellow in Ecuador, Mr. Correa, announcing he won’t contest the next Ecuadorean Election. That does raise the obvious question of just what does happen to Mr. Assange now doesn’t it.

Oh, and of course, hasn’t China just been granted a seat at the top table of the IMF! Good for them, I’m sure they won’t spurn that opportunity.

So what is there to look forward to I wonder – well, the French Presidential Election in 2017 looms doesn’t it. Marine Le Pen might be the last best hope for a much needed outbreak of sanity!

Marine Le Pen is a lying b*h psychopath and sell out: she completely supports French theft and bleeding of Africa, thereby driving more African migration to the EU. She smirks and laughs at her supporters and the other idiots that think she’s actually serious and sincere. Just look at how she’s treated her father, stabbed him in the back to make her own political career easier. If she did that to her own dad, imagine his much easier it will be for her to do that the average French (and International) Dupe that votes for her or believes in her.

If you trust Marine Le Pen , then you’re going to get a well deserved and humiliating come down when that opportunist screws her country and your ideological dreams. She’s fake opposition.

Given that nothing happens in isolation and this agreement was made exactly two weeks after the downing of the Su-24, was it China that just stabbed Russia in the back?

The Chinese, having accepted a paltry 10.92% stake in the IMF/SDR basket currency (versus an expected 14-16% and compared to a 41.73% stake for the USA) at this maximally volatile moment of crisis, have enabled a new round of economic warfare against Russia.

With this agreement China has effectively helped secure US dollar power (representing 42% of global GDP on an annual basis) while Russia is left dangling in the breeze. The vast proportion of Chinese debts are now fully secured (on yours and my back) all while they continue to benefit massively from the low cost of energy.

Was this always the plan of the AngloZionists and has China been in on the game since the beginning?

Nothing has harmed China in any way since the begining of the Arab Spring including the wars in West Asia and North Africa. All throughout they have continuously reaped rewards while offereing no meaningful support to their supposed Russian partners. In Xinxiang, unlike the Caucuses or Central Asia, the threat of terrorism cannot be viewed as existentially threatening to China. In fact it is the reverse as the Western sponsered proxy jihadism of puny Muslim populations only serves to strengthen the Chinese state, as one might expect in any modern technocratic fascist system, which China most definitely is despite rosy portrayals. Only the Japanese and Korean elites are further along in the process of infantalizing and roboticizing their domestic populations.

Thanks to China/IMF/SDR agreement Russia is newly vulnerable and very suddenly under direct attack along precisely this impossible-to-recover-debt axis in Ukraine, as covered in your article. Russia could conceivably retaliate by defaulting on debts to Western institutions but this would only harm Russia and further cut it off from the world economy including the SDR system, which could conceivably become the only game in town if the Chinese desire.

What response could the Asian Development Bank or weakening BRICS make to help Russia, if indeed China agreed to go along in the first place? Must Russia now go along cap in hand to the Chinese? It is troubling that the IMF/SDR agreement sets up a possible ring of economic exclusion focussed on Russia. States on the periphery could be enticed into the global system while Russia could be pushed to the sidelines. From my non professional viewpoint this seems to be the prevalent motivator for a deal between the IMF and China. It also fits in with a long term pattern in which China quietly cooperates with Western interests to contain or possibly destroy Russia.

As the article more or less states, the IMF has declared war on Russia. This while China now sits, wittingly or unwittingly, in the position of beneficiary and partner to the West against Russia by virtue of their participation in the SDR system.

Recall the US and China have a long standing partnership dating to back before Mao and experiencing massive expansion under Deng. The rapproachment between China and the US in the 1970’s was made primarily to isolate Soviet Russia. It was AngloZionist capital and technical assistance which later made the rapid development of China possible; just as with South Korea, Japan, Nazi Germany and also the Soviet Union, although the Soviets were notably cut off just as the relationship between China and the West became strengthened, ultimately leading to the dissolution of the Soviet-Russian bloc.

Are China and the West still working together on a long term plan to detroy Russia?

Other notable recent developments in relations between China and the US include heavily stage managed ‘excercises’ in the South China Sea (perhaps to distract and simultaneously reassure Russia concerning Chinese neutrality?), evocotive of the stage managed Umbrella Revolution, also calculated to drive a wedge between China and Russia at a critical moment of crisis, as some may recall.

In Djibouti, China is taking over a US military base and securing access for a planned transportation corridor inland towards friendly Ethiopia. Was an agreement reached between the US and China on this and other matters concerning the division of territories in Africa? Apparently Africom-NATO has no problem with this move by China and took the opportunity to justify/formalize their presence in neighbouring Eritrea, further exposing a possible geopolitical purpose for the war in Yemen.

What I see is a global scramble for control of land and resources by seperate but cooperating Western and Chinese blocs while Russia attempts to counter with a primarily voluntary and defensive bloc of its own. The chilling visions of Huxley and Orwell in a tripartite world order seem to be the only consistent and predictable trend developing as we move forward — with only Russia opposed to the extreme rationalization and economic/technological enslavement of humanity.

Is China with Russia or is it with the AngloZionists who have been partners with the present Chinese ruling clique (originating in partnerships with triads) since the days of the Opium Wars of the mid 19th century? I have seen no meaningful support for Russia over and above what might be expected from China since the downing of the Su-24. In fact the Chinese have been excessively neutral when stronger support was called for in response to Turkish and NATO aggression, again leaving Russia dangling in the breeze.

Thanks mostly to China, Russia is now more fully exposed to the economic squeeze put on by the hegemon. The BRICS ‘alternative’ was never real and the on-going war in the MER will continuously sap Russian resources, an effect made more potent by long term surpression of oil prices. At the same time Biden and Nuland have just reappeared in Ukraine to remobilize the exhausted Ukie gangster state in preparation for a new round of violence against Russians.

Finally there is the question of Iran. Where has Iran been in Syria and Iraq and why is there no serious response to Turkish incursions, especially in Iraq? Did the Turkish ‘deep state’ secretly get the backing of their oil former smuggling partners from within the Rouhani-Rafsanjani faction of the Iran branch of globalizing criminal elites? Qasem Soleimani may be making frequent trips to Moscow but where is Iranian President Hassan Rouhani?

Yesterday Vladimir Putin hinted that the use of nuclear weapons was not inconceivable. This suggests the Russians do indeed feel vulnerable and further they are not so concerned about Chinese reactions. Russia is undoubtedly winning in the court of world public opinion but with the oligarch-tyrant elite they seem more isolated than ever.

This is a problem for anyone who values their own dignity.

I recall now an incident where Putin offered Xi Jinping’s wife a shawl, an action censored by Chinese media. It was in that moment I remember thinking that Putin had made a mistake, demonstrating his humanity and effectively showing up his sociopathic company, all of whom would hate him even more and be determined to see all empathic people like him permanently subjugated or destroyed.

This is the correct frame for viewing World War III as I see it. All of the suffering and dying is done by one class (ours) while all of the rewards go to another (sociopathic elites). Only Russia under Putin seems interested in taking the considerations of normal people into account.

Whose side is the Chinese leadership on?

We will never be able to exclude the possibility that Chinese and AngloZionist oligarchal criminal elites are willing to work together to destroy Russia.

You think the Chinese would accept vassal status? It would be on par with the likes of turkey.. Which is also where Japan and Korea are..
These are the same Chinese who were used as slaves to build the great American rail roads.. They are not considered stupid…. But they are not considered as whites either.. Even the Europeans are considered sub standard..

As someone who knows a little bit about China and its policies and trends, I’d like to refute nearly all you say about that nation and its leadership.

However, there is so much in your spiel that I’d have to spend two hours to refute with references each item.

Generally, you don’t know what the hell you are talking about.
It appears you know just enough to make silly statements.

China would be contained, bottled up and shredded if there was no Russia. China is far more fragile socially than Russia. China needs Russian toughness, technology and weapons systems.
The Chinese are very timid and bluff and bluster a lot, but have no intention of using their military beyond their borders. They would never act as Russia has in Syria.

Thus, they need Russia as ally more now than ever. Russia is even stepping in to help control the whacko Kim in the DPRK. China’s only link to North Korea of late is through the Communist Party links. Putin sent Shoigu there last year to open up talks and to try to get them to back away from nukes and missile tests.

Russia will be protected financially through many devices by the Chinese. This is their core relationship. China does banking and investing.

And the number 2 man in IMF is Chinese. He will be the next leader of IMF when LeGarde is out. The only reason she is still there, the US is protecting her. She would go to jail for some things she’s been involved in, and the position as President protects her from prosecution.

If you recall, she took over for the prior clown who was facing rape charges himself.

This is how the Liberals keep a leash on their frontmen/women. They douse them in scandal and then they obey orders from the Hegemon Elites.

China’s long term strategy is long term (20-50 years). They will outgrow the US and out-innovate.
The new wave of patents in crucial industries is heavily Chinese. The young people are returning to China from abroad and creating new businesses. This will push China to a level with any nation in consumer goods, content for entertainment, science advances and technological breakthroughs. While the US is going backward, downward and relying on Amazon drone deliveries and Starbucks frappes for its economic lift.

Russia is a relatively small economy, structured atop oil and gas. It will take another 10-20 years to balance other sectors and to increase its demographics.

Don’t expect either nation to do what they cannot do. They will do what they do best and what they must do. And working together is an existential necessity for both. They are entwined by the same enemy and threats to fight together (if separately at times). Think of Eurasia and the surrounding oceans and seas where the enemy masses its military. Then you will understand why neither can go it alone.

China would be contained, bottled up and shredded if there was no Russia. China is far more fragile socially than Russia. China needs Russian toughness, technology and weapons systems. The Chinese are very timid and bluff and bluster a lot…

Are you talking about China or that Chinese kid you knew in grade school?

;)

I agree with one thing you said, China needs a partner. Sometimes it is Russia and sometimes it isn’t.

Brazil was a very good junior partner for Russia in the BRICS,but the end is in sight.Otherwise the Brics is mainly based on China and Russia(India is less active).
I would not trust both China and India too much.Don’t forget the Tafta and TPP are coming soon.This is also some kind of war as both China and Russia will be commercialy isolated(that is the main purpose).The message is crystal clear:join us or we will be against you untill you fall,we have time,we can wait a little if necessary.
The big mistake of Putin was ‘Odessa’ which was a ‘test’ for Nato and co.No reaction…ok we can continue to push(donbass war,sanctions,MH 17,mistral,Assad mut go,Isis etc etc…).
These people only respect the use of force because it is their way to behave they can’t understand others don’t (it is very sad but i is a proven fact).
Putin choosed the option ‘our partners’ ok…but there are no partners in fact.They don’t respect anything anymore(IMF,Contracts broken,loans not repaid,downing of russian SU,bomb inside the airbus..)and probably much more to come be sure.

About the yuan in the IMF dts basket,it could seem to be a chinese betrayal at first sight,but on the medium term for the US it is the beginning of the end of the petrodollar.
Imagine if the house of the Saudis start to accept (even in ‘small’ amounts)the yuan as another petrocurrency…what will happen?

The US is trapped in depression with fake unemployment stats(95 millions of the active population out of work and 50 millions on food stamps),zero interest rate,no more QE,which means recession everywhere else and worldwide contagion…if the oil price falls even more,we will enter a global depression(even more quickly if the FED increases by 0.25 their rate next week).It will crash the economy.The dollar will go up,all emerging markets currencies will crash even more(even the euro which is already quiet weak at 1.09).Canada,Norway western countries all oil dependent are in recession,even Finland one of the strongest EU country…not to talk about the usual so called PIIGS.
Japan,Brazil,Argentina,Venezuela,Algeria even Australia are in bad economical situation.
There is no real growth nowhere(even in China where the data are not very reliable,the real nr is nearer +2.5 than + 6 or +7 pct,and it used to be above 10 pct for almost 15 years).
The oil price so low is not only a Saudi plot against Russia and the US…there is simply too much offer and no demand.

The EU,Japan,the US,the UK are all trapped in artificial QE for eternity(deflation,zero or negative rates,mountains of debts,mass unemployment..),but the problem is there is no ‘clean’ way out of this shit.Investors must take their losses(they avoid to do it since 2008).What better than a big war for a big reset?

Challenging group think memes makes you unpopular with some but many others value opportunities to debate relevant ideas.

You, on the other hand, undermine people’s confidence in their most basic understandings of reality, causing them to question their ability to think or know anything, i.e. nuclear weapons are a hoax, a claim you make in every third post.

The IMF, (world capitalist Zionist American & puppets, alliance), has just landed its strongest punch against Russia. That is it. They can do no more, only nukes from Zionist America can be added to the IMF punch.

Russia has been effectively (almost completely) economically isolated-separated from the rest of of planet Earth. Russia can no longer extend loans as a part of the business of selling products outside its country. It cannot extend loans, that it realizes (in advance) may never be repaid. This act if the IMF is designed to cripple the Russian economy.

If you peruse the leading Zionist imperialist medias, such as the “NY Times,” you will see more fanatic and inaccurate diatribes against Russia. Here is one today.http://www.nytimes.com/2015/12/09/world/europe/joe-biden-ukraine.html?ref=todayspaper
The article is a clever collage of misdirection. Ostensibly dealing with the Ukraine, it mainly attempts to prove that the United States is a Democracy, and its leaders, good people, and at the same time, it virulently slanders Russia.

The War is On!

*What can we do?

Are we doing all we can to Leaflet, use Signs, Rallies, to educate our fellow students, workers, and neighbors? -Outside of (in addition to) posting comments in this, and other websites.

We must go to the people and the streets. Every little bit, every voice, in every neighborhood helps. Our Anarchist Collective, and friends, are concentrating on exposing the Heavily Financed and well directed, Zionist American electoral circus upcoming in 2016. Some of the “Paulies”-pro Ron Paul and friends of Cynthia McKinney, among others in our country, are attempting to respond to the circus. The more active the resistance, the better.

woooo. now that last question even ever so gently posed will not go down well on this website. The Chinese do what is right for the Chinese always and enlightened self interest or win-win has absolutely no toe hold in their world view.

“We will never be able to exclude the possibility that Chinese and AngloZionist oligarchal criminal elites are willing to work together to destroy Russia.”

And it would take hours to try to drum some sense into those of this view. For one, China has a very strong party, and not simply some Western bankster frontmen all over the place. For another, just about all Chinese remember their enslavement by the West and the current actions to strangle and limit their country are discussed by everyone with any semblance of an education.

“The mirror-image response would be for the new Asian Development Bank to announce that countries that joined the ruble-yuan area did not have to pay US dollar or euro-denominated debts. That is implicitly where the IMF’s break is leading.”

Mirroring is a form of reinforcing the opponents’ ideologies and practices, and implicities are vectors in this process.

Opportunities are afforded, but not restricted to the linear nor the “economic”.

Russia is not a sovereign country. Its central bank is simply an extension of the US federal reserve. A powerful 5th column sits in control of all major centers of decision making occupying this once great nation. Most Russians are totally unaware of this. So what can Russia do if IMF acts against Russian interests. The IMF knows they control Russia. Putin is not in charge. He just heads the system – the system put in place by the very same western interests which control the IMF. Russia could not even take an initiative in Donbass. Let us call a spade a spade.

Precisely. All those “analyses” on this site are just a waste of time. I have said for two years now: call me when Putin actually shuts down the Russian central bank (should be a piece of cake if he’s truly enjoying approval ratings over 80%) and/or when he actually sanctions a U.S. mega corporation.

You anonymi are damned fools. To use a chess metaphor, since the Queen is the most powerful piece, you won’t believe he’s playing for real until he sends that queen deep into the enemy position to mix it up.

Except it’s worse than that. Get it through your heads: Putin is playing an asymmetric game, in which the opponent is in many ways much stronger than he is, and in which many of the outcomes can involve both sides losing. He can’t screw around doing reckless moves.

I do think it would be wise for him to replace some central bank personnel and ease up on the supposed principle of central bank independence. Central banking is far too important to leave to the financiers. But just shut the thing down? Completely nuts. And getting into a tit-for-tat war with American corporations would be pointless and stupid. The United States can seem fairly monolithic; its foreign policy elite differ a little on tactics but not much on essentials. But individual corporations are another question; even companies firmly in favour of things like sanctions as a general principle (for everybody else) will enthusiastically dodge them in practice if it means a bit more money. Capitalists will sell you the rope to hang them with . . . if you haven’t decided to refuse to buy.

Russia’s central bank worries me, to be sure. Likely the guys in charge of that aren’t consciously disloyal to Russia, but they have internalized the assumptions of American/European finance and so in effect they pretty much are. And that’s a big lever.
But the rest of that is bogus; there are lots of other sources of power in a country, and in Russia most of those are not in fact controlled from outside. It seems like lately even much of the bourgeoisie has come around to the idea of a nationalist project. Hard to say how long that can last, the logic of capital is inexorable so Putin better make the most of it while he can. But for now, the Russian elites are pretty nationalist.

This article I found on a Dutch website. It think it is very interesting, although I am not sure if it is all true. May be people here may know more.
Exerpt via google translate:
“On 25 October 1917 the bank was closed by the communists. Successor was by Lenin at the instigation of the western banking cartel founded “People’s Bank of the Soviet Union” with a banking license until 1922. As of that year, the activities were taken over by the Soviet Union Gosbank, which was lifted in 1991 when the Soviet Union had fallen. Immediately thereafter, the Bank Rossii (Bank of Russia) was established and created with its help the new Russian Federation. The Russian Federation (and its statutes) is a creation of the West with the aid of controlled by the West Central Bank.

The Western banking cartel used the communists to help the Czar founded Central Bank soap. Because still only the Tsar decided how much money should be put into circulation. With the Communist takeover was ended immediately. One of the first actions of Lenin was the installation of a Central Bank. Unimaginable sums of money and tons of gold owned by the Romanovs are thus in the hands of the Communists cases through which they funneled into the International Banking Cartel in the West to settle accounts. After all, had Leon (Bronstein) inherited from Trotsky America billions in gold to finance the Revolution. Also German financiers – who had an interest in peace on the Eastern Front – had to be repaid.

The conventions relating to the “privatization” of the Russian State Bank in 1917 with a term of 99 years and thus end up legally in January 2016. As early as five years ago, Putin has made clear that these agreements will not be renewed.”

The arm of the US Pentagon, the International Monetary Fund, taking all it’s orders from Washington, is supporting the gross criminal US John Brennan CIA inserted Ukrainian government as honoured genocidal thieves. Makes the US look like the scum it is globally.

This strange development seems counterproductive to the US desire to prevent the China-Russia-Europe (CRE) creation of a single economic space. So far the activities (started with Monika war, may be earlier) succeeded in slowing down the CRE. This IMF decision will accelerate it. Do they really want to speed it up? Why? Historically, Hitler had his (seemingly valid) reasons to postpone his “Barbarossa” start-up despite the unfavorable timing.
Qs for Saker: 1. Ukraine regime is ready to fold, 2. Confrontation in Yellow see is coming, …. ????

There are some mechanisms for bypassing both the current system and the components within the existing paradigm: barter, for example, lets countries trade independently of any monetary system. It doesn’t have the versatility and connectedness with the world economy that money has, but there are advantages as well as disadvantages to that, and doing it weakens the imperialist hegemony. Engaging is a different banking system and not IMF/world bank, or different currencies, is a step between IMF and barter — largely a way to do barter through an accounting abstraction. Nations can create their own ‘local’ script systems and merchant account systems.

The two difficulties which can occur when trying to do things differently is loss of comaptibility within the world economy and international trading, and internal resistance by those in a country who either depend on the current established systems, or think they do. (And some of this is because mechanisms are set so that some parties can take a cut of the action through taxes, fees, or contractual overhead costs such as licensing, patents, or credentialing). ‘Black’ and ‘gray’ markets describe current under-the-table arrangements, but the idea of alternative transaction methods can be expanded as participants desire if hegemonic enforcement is inapplicable, and people can come to see this as ‘legitimate’ once the morass of the finance system is cut through, and the use of money and finance to control nations and people by the wealthy is deligitimized.

If a kid doesn’t care about what grades the teacher gives him then they can’t force him to do the silly homework or attend class, and other means of coercion come into play. If a country, or cooperating group of them meet all their tangible needs then it doesn’t matter how many dollars they have.

and Yats say Ukraine is going to sue Russia…………..KIEV, December 9. /TASS/. Ukraine’s Prime Minister Arseniy Yatsenyuk said Ukraine is ready to pursue against Russia in court over its $3 bln debt.
“If Russia files a suit against Ukraine we’re ready to pursue in court fully armed,” PM said at a government meeting, once again adding that Kiev will not provide better terms to Moscow than those to international creditors on its debt restructuring.

Thank you so much for revealing some of the past and recent history especially for the US readers who has no clue how they were duped by their corrupted politicians as the rest of the world.
These psychopaths were administrating the world by their corrupted methods, bribery and of course the extortion if the already bought politicians didn’t do what they want.
It was very well visible that these corrupted people are in trouble when they want to accused one of their own on the rape of the maid in New York hotel.
Cracks are starting to be bigger and bigger, printed money went out of control and this is the last straw when they actually exposed themselves why they want to destroy Russia because Russia have refused to play their looting game!
Well it is too late, the all world now can see already that who is behind the curtain and the Bernie Madoff Ponzi scheme is coming to the finale and the exposure for the world to see.
Many of these comments are expressing fear from the future war and the consequences. These gangsters are in a much, much bigger fear because they already know that it will be NO PLACE AROUND THIS EARTH for them to hide. Is it very simple.
Everything will be fine, just we have to go through this huge cleansing process even we like it or not and the humanity is finally waking up and see this horrendous fraud what was functioning for centuries.

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